The Unicrunch — The changing media landscape is the message


Market Wrap

The Unicrunch — The changing media landscape is the message

Sami Vukelj's avatar
  1. Sami Vukelj
5 min read

The Unicrunch is our US private credit newsletter, in which we break down everything from unitranches to ABL lending. Find out more about 9fin for private credit, and sign up for the newsletter below.

Card carrying private credit

The ubiquity of screens is not just a recurring headache for parents, but for financiers and lenders alike.

For while TikTok comes to have a dominant presence among the nation’s youth, mediums such as trading cards are simultaneously garnering a new, niche fan base among Gen Z, while cinema proved its enduring popularity as millions made their way to the ‘Barbenheimer’ event.

Headline narratives covering the death of one thing and the ushering of a new never account for it not being a clean split in eras — one form of media simply doesn’t expire overnight. And that’s a question for lenders trying to game out opportunities in such transitional periods, while also avoiding being caught out from transitions.

Beckett Collectibles has come to the market this week, seeking a $250m refinancing, 9fin reported. The company specializes in authenticating and grading sports cards, particularly baseball, basketball, football, and other sports, as well as memorabilia such as baseballs and autographs — a different type of asset to the tech and healthcare investments direct lenders like to underwrite.

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